Actuarium

Formula sheets

Every formula on the syllabus, rendered natively, with the traps examiners set for each. Print one per exam and keep it by your desk.

GIADV — General Insurance — Advanced Topics

SOA

Layer expected loss   E[layer (a,a+l)]=E[X∧(a+l)]−E[X∧a]\;E[\text{layer } (a,a+l)]=E[X\wedge(a+l)]-E[X\wedge a]; with ILFs:   (ILF(a+l)−ILF(a))×basic-limit loss cost\;(ILF(a+l)-ILF(a))\times\text{basic-limit loss cost}.

Cat model chain: hazard → vulnerability → exposure → financial module; outputs OEP/AEP curves;   AAL=∫EP(x) dx\;AAL=\int\text{EP}(x)\,dx.

Retro premium & Table M: see CAS Exam 8 guide.

Traps to remember

  • Treating OEP and AEP interchangeably.

  • Forgetting ALAE treatment (pro rata vs included) when pricing excess layers.

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